Green Finance Taskforce publishes recommendations

30 Mar Green Finance Taskforce publishes recommendations

The Green Finance Taskforce has published its report to UK Government, with 30 recommendations aiming to unlock private finance to support the transition to a low-carbon economy.

The recommendations are grouped around ten overarching themes, including:

  • Creating a unified brand for green finance in the UK
  • Launching a Green Fintech Hub and Centre for Climate Analytics
  • Integrating the recommendations of TCFD (Task Force on Climate-related Financial Disclosures) into corporate reporting frameworks
  • Establishing a dedicated public-private green venture capital fund
  • Ensuring fiduciary duty clearly states the importance of ESG issuesgreIssuing a Sovereign Green Bond.

The Taskforce, which is co-hosted by the Department for Business, Energy and Industrial Strategy and HM Treasury also identified a number of longer-term reforms, including addressing barriers to sustainable investment and considering how the prudential regime for banks and insurers might differentiate between the risks of ‘green’ and ‘brown’ assets.

You can read the full report here and a useful summary by UKSIF here.